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Sovereign Wealth Funds Briefing 18.Nov 2011

Posted on 18 November 2011 by VRS |  Email |Print

Michael Jude FernandesKhazanah Nasional, the sovereign wealth fund of Malaysian government, is planning to invest in India in sectors like financial services, infrastructure and energy in the near future. “We are looking at sectors like financial services, infrastructure and energy for investment in the near future,” Executive Director of Khazanah Nasional, Michael Jude Fernandes said.

The executive director also said that there is no fund earmarked for these investments and there is no specific ticket size that the fund is looking at for investment……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

China Investment Corporation, the country’s sovereign wealth fund, invested 20 billion yuan (US$3.15 billion) in the China Export and Credit Insurance Corporation (Sinosure) in June, in a move to provide capital support for its commercialization and reform plan, according to a recent report.

The move came after the government planned to allow its financial institutions, including Sinosure, to transform into fully commercial entities. Following the restructuring and listing of China’s big four state-owned banks, the commercialization and reform of the state-backed financial institutions are considered the next crucial step in China’s financial reform……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional are finalising a deal to borrow S$5 billion ($3.87 billion) from nine lenders to fund two property projects in the city-state, Basis Point reported on Thursday.

The banks include Singapore’s three lenders DBS Group , United Overseas Bank and Oversea-Chinese Banking Corp, and Malaysia’s Maybank……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

Temasek Holdings has bought out the promoters of Assetz Global Technology Park for Rs800Cr through it’s subsidiary - Mapletree India China.

Assetz Global Tech Park located on Bangalore’s Outer Ring Road, is an integrated mixed-use development, which has a developable area of 15 acres or 2.5 million sq ft. As of October 2011, five lakh sq ft of developable area within the business park was operational, leased to LSI Logic. The project was a JV between Singapore based - Assetz Property Group and Delhi-based investor Mithilesh Tripathy……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

Temasek Holdings has bought about one-third of the China Construction Bank (CCB) shares that have been offloaded by Bank of America in recent days.
Temasek is believed to have paid about HK$4.93 a piece for the shares, or HK$17 billion (S$2.8 billion) in total, Bloomberg estimated. Two Chinese institutions will buy the rest of the 10.4 billion shares Bank of America is selling, reports said……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

Republicans and Democrats in the Alaska Legislature have sponsored bills requiring the state’s permanent fund and government retirement accounts to divest themselves of stock in companies that do business with Iran, citing the country’s threats to the world and its own citizens.
“I think this is a unique situation,” said Sen. Bill Wielechowski, D-Anchorage. “You have a country that is recognized as supporting terrorism, has recognized human rights violations, is creating a nuclear program that is a threat to the entire world, and that is using money from investments being made there to kill Alaskan and American soldiers.”…………………………………….Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

It is sad that the political leadership of this country has not deemed it necessary to muster the guts to go straight to the roots of socio-economic and political problems that have brought the country at the brink of a failed state.
Instead of facing the stark reality to frontally address the fundamental causes of the country’s gross under development in spite of the over 50 years of crude oil exploration and the accruing huge foreign exchange earnings, the executive and legislative arms of government have again started chasing shadow instead of the substance in addressing the multi-furious developmental challenges and constraints that hamper the age long expected good standard of living of the beleaguered and apparently marooned masses……………………………………..Full Article: Source

Posted on 18 November 2011 by VRS |  Email |Print

The Minister of Finance Dr. Ngozi Okonjo-Iweala have declared that both the Federal and state governments had agreed on the Sovereign Wealth Funds launch, stating that the disagreement had been put behind the governments.

In a keynote address at the maiden Rivers State Investors’ Forum tagged: “Change That Works,” in Port Harcourt, Rivers State she said “We are all united now, in the launch of the Sovereign Wealth Funds………………………………………Full Article: Source

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